Sale to Settlement Steps

Presentation

We at Katy Thoms Team understand that when a prospective buyer visits your home, they are trying to envision themselves living in the property. The manner in which a property is presented can make a big difference in their decision to buy and how much they are willing to pay. Notice the effort that home builders go through to showcase their models. We are not suggesting the level of expense that builders put forth, but little things can enhance the appeal of your property, such as:

  • Turning on all the lights
  • Adjusting all the window shades to the same height
  • Playing soft music
  • Removing our lovable pet(s)
  • Adjusting heating/cooling appropriately for the season
  • Creating aromatic enhancements such as baking chocolate chip cookies
  • Hiding trash cans and lawn debris
  • Removing screens from the windows

Staging Your Home

Home builders (models) and furniture companies (showrooms) learned long ago that setting the stage can make a big difference in a customer’s reaction to their product. Long & Foster’s powerful marketing techniques, coupled with a properly staged property that is clean, spacious and clutter-free, can translate into a sale. Often, only minor effort is needed to enhance the appeal of a property. But the market allows just one chance to make a great first impression each time a buyer tours the property.

Is there anything you have thought of doing to prepare your property?

Negotiating Strategy

It would be impossible to design a specific negotiating strategy for your property until buyers make an offer. However, at this time we can show you how we construct one. The first step is to organize the offer into three categories of  information:

  • Financial credentials of the buyer (the best offer in the world is no good if the person cannot perform at settlement)
  • Property and legal disclosures (an improperly managed transaction can result in months, s, if not years, of legal battles), and
  • Contractual forms (this is where we find out what you will net from the transaction)

Next, we evaluate the terms and conditions of the offer. When does the person propose to close the transaction? What inspections do they want to perform? What happens if they find some thing. Who pays if they do? Is financing involved in the purchase? What happens if they cannot obtain financing? Remember, your property is off the market while they are pursuing their committment for a loan. How much are they offering in their deposit? And, of course, what price are  they offering?

This is the short list of issues to consider. Once we clearly understand  all of the ramifications of what the buyer is offering, then it’s time to ask what is important to you. We will already have discussed your goals when the marketing of your property began; now it’s time to defend your interests in light of the market reaction to the property. Most sellers value profit, timing, and convenience, but perhaps we can help you with an additional requirement.

Finally, after lengthy discussions we will offer our best judgement on the pros and cons of the offer and design a counteroffer strategy. Let the negotiations begin!

Evaluating the Terms of the Offer(s)

  • Date of closing
  • Rent back
  •  Home inspection
  •  Radon inspection
  • Conveyances
  • Financing/appraisal
  • Transfer taxes
  • Master plan
  • Settlement company
  • Deposit
  • Closing assistance
  • Price
  • Escalation clause

Finding a Buyer is Only a Part of the Job

Installing a sign on the property is one of the most visible aspects of the real estate industry. For this reason, many people do not realize that securing a ready, willing and able buyer is only 25% of the total effort expended by the Realtor® in helping a seller reach the settlement table.

Listed below is a general category list of the tasks that must be completed. This is where 75% of the work is done. Not only is the accomplishment of these tasks necessary, but they must be done in the right order for a successful sale.

What we do